After trading around $28 at the start of the year, silver FINALLY played catchup to gold and has topped $63.
If you are a financially ignorant socialist who thinks prices of everything go up because of “monopolies” then you might start screaming about the “silver monopolies” causing this issue.
But if you understand that massive government deficit spending, debt and the idiots at the Federal Reserve debasing the currency are at fault, you are not surprised at all. In fact, you’d expect silver to rise much higher.
I hate to say I told you so, but I DID tell you so. In fact, silver is up 30% just in the last two months. Not bad for an inert, non-productive, “barbarous relic.”
The Federal Reserve made things worse yesterday by cutting rates and promising to monetize debt. The metals, which are REAL money since they can’t be printed out of thin air, are responding accordingly today. It’s simple math.
In reality, it’s not gold and silver (or housing) that has “gone up” – it’s the shitty dollar that has been printed into oblivion that has gone DOWN.